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China Overseas Land, China Petroleum: Hong Kong Stocks Preview

By Hanny Wan

Nov. 4 (Bloomberg) -- The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses and share prices are as of the last close.

The Hang Seng Index fell 1.8 percent to 21,240.06. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, dropped 1.9 percent to 12,500.64.

China Overseas Land & Investment Ltd. (688 HK): The developer bought three sites in Hong Kong’s Kowloon Tong residential district for a combined HK$561 million ($72.4 million), Ming Pao newspaper reported, citing people it didn’t identify. The stock dropped 3.4 percent to HK$16.42.

China Petroleum & Chemical Corp. (386 HK): Asia’s biggest oil refiner, also known as Sinopec, may post a refining profit in the fourth quarter, Chief Financial Officer Wang Xinhua said yesterday. The shares slid 1.1 percent to HK$6.62.

Huadian Power International Corp. (1071 HK): The listed unit of China’s fourth-largest power producer said yesterday it agreed to buy a 35 percent stake in Fucheng Mining for 498 million yuan ($72.9 million), and a 25 percent stake in Changcheng mining for 180 million yuan from XinKuang Inner Mongolia. The stock gained 0.5 percent to HK$2.18.

To contact the reporter on this story: Hanny Wan in Hong Kong at hwan3@bloomberg.net

Last Updated: November 3, 2009 20:30 EST

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